JAL IPO to reach 663 billion yen

Japan Airlines (JAL) expects to raise about 663 billion yen ($8.5 billion) in an initial public offering (IPO) to be launched next month. The Tokyo Stock Exchange has approved the relisting of Japan Airlines’ (JAL) stock on September 19. The deal will price on September 10, but the airline has given an estimated price per share of 3,790 yen. That estimate is in line with expectations.